On May 7, 2018, the BDA submitted written comments to the Senate Finance Committee in support of fully reinstating tax-exempt advance refundings, including qualified 501c (3) bonds and expanding the use of private activity bonds (PABs). The comments can be viewed here.
The comments were submitted in response to a hearing titled, “Early Impressions of the New Tax Law”. While municipal advance refundings and PABs were not discussed, project data shared by BDA member firms provides the Committee with an opportunity to see the importance of these financing tools.
The BDA plans to continue lobbying on Capitol Hill in support of reinstating advanced refundings and expanding the use of PABs.
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